HomeMy WebLinkAbout3. DMX Vail Town Council June 21 2016 FINAL_for CSEVail Town Council & Vail Economic
Advisory Council Update
June 21, 2016
Presented by Ralf Garrison
MTNWEST
•Aspen
•Avon, Colorado
•Big Sky
•Breckenridge
•Beaver Creek
•Copper
•Gunnison/Crested Butte
•Keystone
•Mt Bachelor
•Mammoth Lakes
•Jackson Hole
•North Lake Tahoe
•Snowmass
•Steamboat
•Park City Area
•Summit County, CO
•Telluride
•Vail
•Winter Park
SUN&BEACH
•Hilton Head
•Florida Keys
•Golden Isles
•Experience Kissimmee
•Visit Florida
ASSOCIATIONS&CORPORATIONS
•Onsite Property Management Association
•Colorado Hotel & Lodging Association
•Vail Resorts - Lodging
•Destination Hotels & Resorts–Mtn Collection
Reports with data as of May 31, 2016
include:
25 properties representing 2,456 units
62% of total community census
Vail Property Participation
4
Manor Vail Resort
Montaneros
Sitzmark Lodge
Sonnenalp Resort of Vail
The Sebastian
The Wren
Tivoli Lodge
Vail Mountain Lodge
Vail Racquet Club
Vail Spa Condominiums
Vail Marriott
The Lodge at Vail
The Ritz-Carlton Residences
25 Data Submitting Properties
5
Antlers at Vail
Arrabelle at Vail Square
Christiania Lodge &
Christiania Condos
Destination Resorts Vail
Vail Cascade Condos
Vail Cascade Resort & Spa
Evergreen Lodge at Vail
Four Seasons Resort Vail
Lion Square Lodge
Lodge at Lionshead
Lodge Tower
Economic Overview
9
•Economic Tide: Softer and uncertain. Election adds wildcard
•Battle for the Beds:
–More Demand than Supply, adds to price, drives shift to highest/best use = short term
–Rent-By-Owner Channels come into mainstream
–Regulatory pushback is growing, sometimes potentially over-reaching
•Attractions: Shifting, Slowly but Surely
–Legacy attractions (Ski/Golf, etc.): Flat at Best
–Social/Group Based Exercise - Less competitive/timed events, more socially based
–Increased influence of Post – Title 9, and more X Chromosome influenced
•Consumer Shifts in 2016: More…
•Leisure than Business (Air) Travel
•Millennials than Boomers
•Women than Men: Running events example
22
Summer 2016 Business On the Books as % of 2015 total
as of 5/31/16
71.4%
63.4%
0%10%20%30%40%50%60%70%80%90%100%
2016 Revenue
2016 Nights
Occupancy Summer 2016
23
Data as of May 31, 2016
ADR Summer 2016
24
Data as of May 31, 2016
RevPAR Summer 2016
25
Data as of May 31, 2016
Vail MDC
26
Vail Daily Occupancy
Summer 2016
27
As of May 31, 2016
35.3%
22.0%
68.4%
12.8%
27.6%
44.3%
-30.0%
-20.0%
-10.0%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
2007 '08 vs '07 '09 vs '07 '10 vs '07 '11 vs '07 '12 vs '07 13 VS '07 14 VS '07 15 VS '07
Industry % Chg Occ. Rate vs 2007 Industry % Change ADR vs 2007 Industry % Change Revenue vs 2007
Vail % Chg Occ. Rate vs 2007 Vail % Change ADR vs 2007 Vail % Change Revenue vs 2007
Vail vs. Industry Summer Performance 2007 – 2015
Group vs FIT
31